An underutilized 12-acre site on East Boston’s waterfront that has been vacant for the past 25 years is getting a new lease on life.

Clippership Wharf – East Boston

Earlier this month, the Boston Redevelopment Authority (BRA) green lighted an amended development plan for a $225 million residential project submitted by a joint venture between Noddle Island Limited Partnership and Lend Lease Development.

Dubbed Clippership Wharf, the 745,896-square-foot development calls for the construction of four six-story residential buildings comprising 492 housing units in a mix of condominiums and apartments, ground-floor commercial space and parking.

According to project plans, the residential component at Clippership Wharf will encompass 525,000 square feet, while the retail space will amount to 30,200 square feet across the four buildings. The project will also incorporate below grade parking for 300 vehicles and 21 surface parking spaces, nearly 190,000 square feet of public open space, a small café and restaurant, a fitness center, a lounge and club facility, a canoe/kayak rental facility, a water taxi dock, and possibly a mooring field for sailing.

Apart from revitalizing an underserved area in the East Boston Waterfront by adding an impressive amount of housing units, Clippership Wharf will also serve as a catalyst for beautifying this neglected part of the neighborhood by creating a veritable destination area for the harbor walk that will spur people’s interest and make them want to return to the waterfront.